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Karur Vysya Bank is on an expansion drive. After adding 100 branches to its network in 2012-13, it is now proposing to open around 75 more branches this fiscal.
It added 445 ATMs to take the total count to 1,303 ATMs in the just-ended fiscal. Five-hundred more are proposed to be added this year.
It has already started the work of redesigning select branches to make the service more customer-friendly.
The bank’s business crossed the Rs 68,000-crore mark at the close of last fiscal.
On performance, KVB’s Managing Director K. Venkataraman said that the fourth quarter net was up by 8 per cent to Rs 158.58 crore against Rs 146.79 crore during the corresponding period of the earlier fiscal.
Net interest income grew 19 per cent to Rs 310 crore (Rs 261 crore).
Net interest margin (NIM) fell marginally to 3.03 per cent against 3.08 per cent during the corresponding period of the previous year.
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